A top JPMorgan analyst, Kian Abouhossein, just downgraded Goldman Sachs to Neutral.
People can have a lot of fun with that one, and naturally, they are.
What’s a slap in the face between friends? Writes one commenter on the story.
Watch the left hand…. says another.
But the best commenter on the news thinks its personal. He wrote:
This guy probably slept with someone to get the insider information to make this call. Watch out.
Here’s the real thinking behind the call, from MarketWatch:
The broker said it now prefers European investment banks to their U.S. peers. Analyst Kian Abouhossein said in a note to clients that the downgrade of Goldman is due to valuation as the stock has outperformed its rivals by around 17% since July. The note said Goldman also potentially has the most to lose from new U.S. regulation, including the Volcker Rule.